Current: West Surrey is in a Sellers Market with an average listing inventory, 11 %SOLD rate and a 98% Sell/List Ratio. (This means that there is an average of a $14,900 sales discount from the original list price)
Most Active Range: Homes below $600,000 have 25.0 %SOLD rate.
Least Active Range: Homes above $1.2 mill have 5.1 % SOLD rate.
History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $148,834.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $103,327.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Surrey has average Listing supply; 566 homes are for sale and with the 11 %SOLD monthly rate gives us a ~9 months of inventory. 10% of the active listings have reduced their price by $53,301 on average or $31,000 median in the last month. We project West Surrey to be a Sellers market.
September's Real Estate Statistics show our Markets have NORMALIZED with 49% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $10,887, which is less than the $4,006 decrease that we saw in the month prior. Overall, Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $2,054, which is a reduction of the $3,386 increase that we saw in the month prior. This Average Fraser Valley Markets are still stronger with a $2,054 monthly increase.
Currently, 61% of the Attached Markets are still increasing in Greater Vancouver (Lower Mainland) (52 of 58 Markets). We are forecasting the beginning of Buyers Market across all Housing Markets. We continue to analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.